Form 10-K

1. Definition

Form 10-K is a comprehensive annual report filed by public companies with the U.S. Securities and Exchange Commission (SEC). It provides a detailed summary of a company's financial performance and is more detailed than the annual report sent to shareholders.

2. Key Sections

2.1. Item 1. Business

Describes the company's main operations, products, and services, including subsidiaries and markets.

2.2. Item 1A. Risk Factors

Lists the most significant risks that apply to the company or its securities. Companies disclose potential threats (e.g., regulatory changes, supply chain issues) that could harm the business.

2.3. Item 7. MD&A

Management’s Discussion and Analysis of Financial Condition and Results of Operations. In this section, management explains the company's financial results in their own words, discussing trends, liquidity, and capital resources.

2.4. Item 8. Financial Statements

Contains the audited financial statements, including the balance sheet, income statement, and statement of cash flows.

3. vs. 10-Q, 8-K

• Form 10-Q: Quarterly report (Filed 3 times a year, unaudited).
• Form 8-K: Current report (Filed to announce major events that shareholders should know about immediately).